Albany Industries will invest $700,000 of its own funds for new equipment at its new Galax plant, according to Terry Treadaway, vice president of the company.
This is in addition to a $2.5 million investment from local and state incentives for equipment, facility upgrades and job placement.
The New Albany, Miss.-based company will begin training and operations at Vaughan Furniture’s former B.C. Vaughan plant this week. Albany Industries, which makes upholstered household furniture, plans to create 335 new jobs for the area over three years.

HILLSVILLE — Carroll officials sent out a message Wednesday proclaiming that the county is a finalist in an economic development effort involving 150 jobs.
Citing the fact the deal that they have worked on for two years has not been closed, county officials did not release any details about the matter.
“It is expected that a final decision could be made soon on the new prospect, if we are able to put together a competitive package,” said Carroll Supervisor David Hutchins.

Officials with domestic textiles company Parkdale Mills say they will work to preserve Twin County jobs, even though the recently ratified free trade agreement is more favorable to overseas competition.
Dan Nation, CEO of Parkdale, joined other employees at a Hillsville factory to make a public appeal to the office of Congressman Morgan Griffith (R-9th District) to oppose the trade agreement with Korea.

Galax won out over two other areas in Albany Industries’ search to expand its business, said Galax City Manager Keith Barker.
Albany Industries, an upholstered furniture manufacturer based in New Albany, Miss., recently announced that it plans to expand into the vacant B.C. Vaughan facility in Galax, creating 335 jobs over the next three years.
This is a $2.5 million investment.